RIM Changes Name to Blackberry, Hoping For Fresh Start

Research In Motion Ltd
is changing its name to BlackBerry, the company
announced on Wednesday, in move to refresh its tarnished image
as it begins marketing a reengineered line of BlackBerry 10
smartphones.

NEW YORK, Jan 30 Research In Motion Ltd
unveiled a long-delayed line of smartphones on Wednesday it says
will put the company on the comeback trail in a market it once
dominated, promising its BlackBerry 10 devices will wow
consumers and businesses alike when they finally hit stores.

Signaling his hopes for a fresh start for the company that
pioneered on-your-hip email, Chief Executive Thorsten Heins said
RIM was abandoning the name it has used since its inception in
1985. From now on, he told tech analysts and other guests, the
company will just be known as BlackBerry.

"We have transformed ourselves inside and out, and we have
defined our vision ... which makes today the perfect time for
another big announcement I want to share. From this point
forward, RIM becomes BlackBerry." Heins said at the New York
launch. "It is one brand; it is one promise."

RIM shares rallied initially on Wednesday, but soon fell to
levels about 7 percent below Tuesday's close. Over the past four
years, the stock has dropped as much as 90 percent below its
2008 peak as the BlackBerry lost ground to rival devices. But in
the last four months its shares have more than doubled in value
as buzz grew about the new devices.

The new BlackBerry 10 phones will compete with Apple's
iPhone and devices using Google's Android
technology, both of which have soared above the BlackBerry in a
competitive market.

The new devices boast fast browsers, new features, smart
cameras and, unlike previous BlackBerry models, enter the market
primed with a large app library, including services such as
Skype and the popular game Angry Birds.

Both new devices are sleek black numbers, one with the small
"qwerty" keyboard that RIM made into its trademark, and one a
pure touchscreen device that looks much like those its
competitors already produce.

"We have definitely been on a journey of transformation, a
journey to not only transform our business and our brand, but
one which I truly believe will transform mobile communications
into true mobile computing," Heins said.

RIM picked a range of venues for its global launch parties.
Toronto's announcement was in the downtown art deco Carlu rooms,
while the Dubai event was held at the $650-a-night Armani hotel,
which occupies six floors of the Burj Khalifa, the world's
tallest tower.

The New York event took place in a sprawling basketball
facility on the Lower East Side of Manhattan, just north of the
Manhattan bridge. The Blackberry has been "Re-designed.
Re-engineered. Re-invented," RIM said.

RIM launched its first BlackBerry as a way for busy
executives to stay in touch with their clients and their
offices, and the company quickly cornered the market for secure
corporate and government email.

But its star faded as competition rose from the likes of
Apple and Google's Android operating system. The BlackBerry is
now a far-behind also-ran in the race for market share, with a
3.4 percent global showing in the fourth quarter, down from 20
percent three years before.

In North America, the market that sets technology trends for
the rest of the world, RIM's fourth-quarter North American
market share fell to 2 percent, from more than 40 percent three
years ago.